S&P 500 Oct 27 to Oct 31 Outlook

Recap
ES simply gapped through the Y+1 resistance mentioned last week. Signature PPT activities detected overnight there. The gap thru led to a strong squeeze up to the crime scene before the waterfall drop into Y-1. Pullback found support at 1920 led to another squeeze to Y+2. Closed the week above Y+2 and at week high.

Outlook
Rising wedge is bearish with downside target B-0 and below. Upside is limited due to longer term holders of equity are unloading heavily. Until ES can prove that it can hold B-0 this week and absorb all the short term sellers, weekly bearish trend is intact and this should be treated as counter-trend up move only.